In Fall 2025, CFOx partnered with Bolt Ventures in their efforts to acquire the largest junior golf tournament platform in the United States, the Hurricane Junior Golf Tour. Bolt Ventures, part of David Blitzer’s private investment platform, engaged CFOx to perform a Buy-Side Quality of Earnings (QoE) to support the transaction. After closing on the transaction, Bolt Ventures continued working with CFOx’s Accounting Services team for post-close transitions, integrations, and record keeping.
The Hurricane Junior Golf Tour hosts more than 300 tournaments annually for junior golfers across the U.S. As part of the due diligence process, CFOx’s Transaction Services team performed extensive External Tournament Data Reconciliations, with a particular focus on revenue recognition. Prior operators recognized revenue in advance of tournament completion, requiring detailed analysis to normalize earnings and to quantify unearned registration fees collected.
In addition to revenue validation, our team completed cash-to-accrual, proof of cash, net working capital analyses, and other ad-hoc analyses to support a comprehensive Quality of Earnings. The transaction successfully closed in April 2026.
Following close, CFOx remained engaged to support post-close integration and recurring operational accounting support. Our Accounting Services team was able to utilize the adjustments identified during the QoE process and began building scalable accounting processes for the tournament’s new management team. This included implementing accounting processes and procedures, purchase accounting and opening balance sheet preparation, identifying and recording cash to accrual adjustments in accordance with GAAP, developing a standardized monthly Financial Reporting Package to improve visibility and decision-making, and completing the month end close process in a timely manner on a go forward basis.
By leveraging multiple CFOx service lines, the client experienced a seamless post-close transition. Our integrated approach allowed for an efficient handoff from Transaction Services to recurring Accounting Services, ensuring continuity, consistency, and long-term value creation.
If you would like to learn more about our Transaction Services, please reach out via email (info@cfoxadvisory.com) or schedule a call directly on our Contact Us page.
For additional background on the transaction, you can read more about the acquisition at DAVID BLITZER’S BOLT VENTURES ACQUIRES HURRICANE JUNIOR GOLF TOUR
Services Provided:
- Quality of Earnings (QoE) Analysis
- Due Diligence on Target
- Accounting Processes and Procedures
- Monthly financial reporting
